2000 (2) TMI 9 - SUPREME COURT

Appellant had claimed relief under section 80HH in respect of its liquid section which had been newly set up in a backward area. It was the contention of the appellant that relief should be allowed on the gross income and not on the net income - Tribunal was right in holding that the assessee was not entitled to deduction under section 80HH of the Income-tax Act, 1961, on the gross profit but on the net income therefrom